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Dec 7, 2012
12/12
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are we in a low interest rate environment today? maintaining current policy a least three years or so should that be the prevailing environment assumption? >> you make a very important point in terms of the fact that the review was done not today but at a point with economic projections in july, over the summer. it is accurate that interest rates have dropped further than were built into the primary, actuarial view. there are two factors to that. home prices have performed better than were used in the actuarial. it would be significantly better today just on that one variable. the second point is that the view is a point in time that assumes we do no further fha business. one of the things that is artificial about it is that, when interest rates go lower, it assumes people pay off faster. that's accurate. typically path of that refinanced into -- half refinanced into fha. assume your clothes and down the fund, there are revenues that will come in not built and. budget, weident's will include the lower interest rates you described. w
are we in a low interest rate environment today? maintaining current policy a least three years or so should that be the prevailing environment assumption? >> you make a very important point in terms of the fact that the review was done not today but at a point with economic projections in july, over the summer. it is accurate that interest rates have dropped further than were built into the primary, actuarial view. there are two factors to that. home prices have performed better than...
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107
Dec 7, 2012
12/12
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are we in a low-interest rate environment today? maintaining current policy a least three years or so should that be the prevailing environment assumption? >> you make a very important point in terms of the fact that the review was done not today but at a point with economic projections in july, over the summer. it is accurate that interest rates have dropped further than were built into the primary, actuarial view. there are two factors to that. home prices have performed better than were used in the actuarial. it would be significant lead better -- significantly better today just on that one variable. the second point is that the view is a point in time that assumes we do no further fha business. one of the things that is artificial about it is that, when interest rates go lower, it assumes piecer -- people pay off faster. that is accurate. what it does not take into account is half of those folks typically refinanced into a fha loan. by the nature of the actuarial, it takes a snapshot of time assuming you are closing down the fun
are we in a low-interest rate environment today? maintaining current policy a least three years or so should that be the prevailing environment assumption? >> you make a very important point in terms of the fact that the review was done not today but at a point with economic projections in july, over the summer. it is accurate that interest rates have dropped further than were built into the primary, actuarial view. there are two factors to that. home prices have performed better than...
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134
Dec 1, 2012
12/12
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under a stress environment, you tolerate a higher failure. what are the costs to society and the cost of that failure? we are starting to answer questions about that. we have not looked at it hard enough. it is really interesting going forward. >> one of the challenges is the chart we're showing does not answer the question. it shows you the cumulative default rate on mortgages, so at every one of those understates the reality of what fraction of our worst -- of borirowers went into the legacy. if they are excluding debt refinances altogether, that the minutes he is not being shown anywhere. we cannot deal with the tough question of what is the trade- off if we do not first measure the question. i encourage fha to redraw that chart where you link the borrowers, and then we can say what is the reality. >> that is a useful metric for analysis. that is where i think that the strength of personnel is. for the bigger question of what rate we are comfortable with, if we go with that metric, you will see there is a bifurcation in the data, there are
under a stress environment, you tolerate a higher failure. what are the costs to society and the cost of that failure? we are starting to answer questions about that. we have not looked at it hard enough. it is really interesting going forward. >> one of the challenges is the chart we're showing does not answer the question. it shows you the cumulative default rate on mortgages, so at every one of those understates the reality of what fraction of our worst -- of borirowers went into the...
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Nov 30, 2012
11/12
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we do not know the causes of asd, but we highlight the need to focus on both environment and genetics. we have established large networks to collect data and conduct powerful analyses. those networks explore possible causative factors in the environment before, during and after pregnancy. one of these networks published a study that suggests prenatal and early life exposure to car emissions is a factor. in 2012, congress appropriated over $47 million for autism and other developmental disorders. this supports 43 training programs through 41 states and projects for underserved populations. federal agencies also use public-private partnerships to maximize our, such as the nih national data office of research that has an autism depository. this brings together hundreds of researchers and clinicians with tens of thousands of people nationwide affected by asd. there is a call center, web based -- the nih supported the association in the early prevention of autism. in conclusion, since the establishment, wide expertise has come to bear on autism with research rapidly translating into indivi
we do not know the causes of asd, but we highlight the need to focus on both environment and genetics. we have established large networks to collect data and conduct powerful analyses. those networks explore possible causative factors in the environment before, during and after pregnancy. one of these networks published a study that suggests prenatal and early life exposure to car emissions is a factor. in 2012, congress appropriated over $47 million for autism and other developmental...
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Dec 4, 2012
12/12
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what the political environment, the culture on the hill, will accommodate. if the dave camp and sander levin cut a deal on the ways and means committee? >> begin the process and see what they can produce then begin the process of trying to confer. if there's a new revenue source, carbon tax, some sort of consumption tax, it will emerge out of their common frustration. that they can't get where they need to know. so don't micromanage or be prescriptive. give them the ratio of expend reductions to tax reform revenue enhancements, give that task, this fall, the committee and over the next six or nine months, task them to meet those numbers. i think the capabilities -- capability is there to do it. there's a will and i believe there is, with the president and john boehner, they will get the job tone. >> could i just add an amendment to what he's saying? i don't think it's credible to kick the can down the road that far at this point. i think that the reaction in the real economy would be devastating. so you have to kind of imagine what you're suggesting, vic, wh
what the political environment, the culture on the hill, will accommodate. if the dave camp and sander levin cut a deal on the ways and means committee? >> begin the process and see what they can produce then begin the process of trying to confer. if there's a new revenue source, carbon tax, some sort of consumption tax, it will emerge out of their common frustration. that they can't get where they need to know. so don't micromanage or be prescriptive. give them the ratio of expend...
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355
Dec 5, 2012
12/12
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it is because they grew up in a -- an unstable home environment. they grew up in dangerous neighborhoods with no access to healthcare. they're often raised by heroic single parents and sometimes an elderly grandmother. they may not have a chance to participate in afterschool to these -- activities because their parents are working and cannot pick them up. every day some amazing parent or caretaker is of her, and all of it to give these kids a chance at a better life. the research on this topic consistently found that children raised in tough circumstances struggle in comparison than children raised in more stable family settings. they face a higher risk of poverty and failing schools. have lower scores on standardized tests, lower grades, and a much higher chance of dropping out of high school or failing to attend college. this societal breakdown is not something the government has solved, but it is something they cannot ignore. you cannot separate economic well-being of of your people from their social well-being. but the federal government -- wha
it is because they grew up in a -- an unstable home environment. they grew up in dangerous neighborhoods with no access to healthcare. they're often raised by heroic single parents and sometimes an elderly grandmother. they may not have a chance to participate in afterschool to these -- activities because their parents are working and cannot pick them up. every day some amazing parent or caretaker is of her, and all of it to give these kids a chance at a better life. the research on this topic...
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209
Dec 1, 2012
12/12
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as far as the environment, energy, it is an absolute winner. we have to do it with the least amount of subsidy, and god forbid there should be a profit , we could achieve that if we work together. let's take the report together. the board of directors, in priia we have organizational problems from the top of the board. proceed in this hearing, i ask the question -- we went to a nine-member board. seven members of the board had been appointed. two democrat appointees were lacking. yesterday i am told that the white house submitted these two nominees. i am pleased to see that. i hope to spend it -- send it back with due speed. sometimes it takes a hearing to get action, whether it is implementation of a strategic plan or highlighting that the board should be filled. maybe they did that of their own volition. i am pleased it was done. let's look at the key folks in place. do divided into six divisions. i am pleased to hear what you said about possibly not going forward with some of the commuter activities in the organization planned, at least from
as far as the environment, energy, it is an absolute winner. we have to do it with the least amount of subsidy, and god forbid there should be a profit , we could achieve that if we work together. let's take the report together. the board of directors, in priia we have organizational problems from the top of the board. proceed in this hearing, i ask the question -- we went to a nine-member board. seven members of the board had been appointed. two democrat appointees were lacking. yesterday i am...
97
97
Nov 29, 2012
11/12
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there are many differences between the environment in the budget of 1990 and today. today's parties are more polarized than they have been in decades and there are macro trends that make the divide even deeper. the difference is, the parties today are will recall ideologically sorted. according to the national journal, the most liberal is more conservative than the most conservative democrat. by the way, olympia snowe, the gap even gets wider. some of the more liberal republicans are leaving the house. that device gets even deeper. the parties are ideologically sorted. complimenting that, reinforcing that division are three other major factors that did not exist in the 1980's. the way congressional districts are drawn with computer models today, most districts are pre drawn to elect one party or the other. that means most of us in the house or about primary elections, we do not worry about the in general elections. my experience has been primary voters punished compromise. there is a slew of former members that had higher aspirations that can testify to that. when yo
there are many differences between the environment in the budget of 1990 and today. today's parties are more polarized than they have been in decades and there are macro trends that make the divide even deeper. the difference is, the parties today are will recall ideologically sorted. according to the national journal, the most liberal is more conservative than the most conservative democrat. by the way, olympia snowe, the gap even gets wider. some of the more liberal republicans are leaving...